Huaxia Times (chinatimes.net.cn) reporter Shuai Kecong Chen Feng reported from Beijing
After the historic sell-off, US stocks ushered in Historic rebound. On March 24, the US stock market Dow soared by more than 2100 points to set a historical record. After the Fed launches an unlimited easing plan, the US Congress is expected to soon approve fiscal stimulus bills totalling $ 2 trillion, and investors seem to be seeing the dawn of hope.
Tuesday is an exciting day for global stock markets. Asia-Pacific stock markets rebounded strongly, and European stocks rose across the board. However, the global epidemic situation is still severe. The latest data show that the cumulative number of confirmed cases worldwide has exceeded 410,000. The president of the International Monetary Fund (IMF), Georgieva, predicts that the global economy will experience negative growth in 2020, but will recover in 2021.
The global stock market ’s collective counterattack
As of 4:00 am on the 25th of Beijing time, U.S. stocks closed, the Dow closed up 2121.98 points or 11.37% to 20704.91 points The Nasdaq rose 8.12% to 7417.86 points; the S & P 500 index rose 9.38% to 244.73 points. The Dow hit its largest single-day percentage increase since 1933, with a record-breaking point, and the S & P 500 index has its largest single-day increase since the 2008 financial crisis.
The U.S. Congress is nearing the conclusion of a fiscal stimulus bill totaling US $ 2 trillion in order to respond to the economic shock caused by the new crown pneumonia epidemic and help companies and workers under the epidemic to pass through. Through the crisis. As related optimistic expectations came out, market sentiment was greatly boosted.
Pelosi, the speaker of the US House of Representatives, told the media on Tuesday that he is optimistic that Congress has reached a fiscal stimulus bill.”We believe that the fiscal stimulus bill is fully on the workers’ side.” US Treasury Secretary Mnuchin revealed The bill is expected to be reached late at night on March 24 local time.
U.S. President Trump also urged Congress to reach an agreement as soon as possible on social media on Tuesday.”Today Congress must reach an agreement without any nonsense. The longer it takes to start the economy, the more difficult it will be for American workers to Will be hurt.”
European stocks also rose across the board overnight. The European Stoxx 50 Index closed up nearly 10%; the British FTSE 100 Index rose 9.35%; the French CAC40 Index rose 8.39%; the German DAX30 The index rose 11.49%. In addition, Italy’s FTSE MIB index rose more than 8% and Spain’s IBEX35 index rose about 9%.
The major Asia-Pacific stock markets also rebounded strongly on Tuesday. The Nikkei 225 index closed up more than 7%, South Korea’s KOSPI closed more than 8%, and Australia’s ASX200 index rose more than 4%. After the A shares opened higher and lower, the V-shape reversed. The three major stock indexes closed up more than 2%, and the Shanghai index recovered 2700 points.
Apple’s market value is back to trillions of dollars
US stocks rose across the board on Tuesday’s rally. Aviation stocks that have suffered a heavy blow before have ushered in a sharp rebound. Southwest Airlines shares rose 11%, Alaska Airlines rose 20%, Delta Airlines rose 21%, United Continental Airlines rose 25%, Pacific Airlines rose nearly 16%, and Boeing shares rose nearly twenty one%. Boeing’s stock price fell 70% in the past month due to a severe blow from the epidemic. Trump said on Tuesday that he would not let Boeing close.
Large U.S. technology stocks rose sharply, Microsoft shares rose 9.12%, Apple shares closed 9.91%, Google parent company rose more than 7%, Amazon rose 1.96%, Intel rose 5.69%, Oracle rose 8.26% Nvidia rose 17.26% and Tesla rose more than 16%.
Under the strong rebound, Apple ’s total market value returned to more than one trillion US dollars on Tuesday, with the latest total market value of US $ 1,079 billion, second only to Microsoft ’s US $ 11326 billion. Bloomberg cited internal memorandum reports that Apple may reopen some retail stores in early April, but it is unclear which countries and which retail stores will reopen. Earlier on March 18, Apple announced that due to the epidemic, all retail stores outside Greater China will be closed indefinitely.
In terms of popular Chinese stocks, Alibaba shares rose 5.34%, JD.com shares rose 6.22%, Pinduoduo rose 5.72%, NetEase rose 8.38%, Baidu rose 5.71%, New Oriental rose 13%, and Tencent Music rose More than 5%, Ctrip rose 6%, iQiyi rose 7%. According to news on March 24, Softbank Group of Japan intends to sell Alibaba shares worth about 12 billion to 15 billion US dollars as part of its $ 41 billion (4.5 trillion yen) asset realization plan.
The global epidemic situation is still severe.
Despite the historic rebound of US stocks on Tuesday, the market is still in a bear market. Some analysts believe that unless the inflection point comes, it will be difficult for the market to fundamentally reverse the situation.
The total number of confirmed cases of new coronary pneumonia worldwide has exceeded 410,000. According to real-time data from the Johns Hopkins University in the United States, as of 7:00 Beijing time on the 25th, there have been 417,698 confirmed cases of new coronary pneumonia worldwide, and about 35,000 new cases have been added in the past 15 hours. The cumulative number of deaths worldwide has reached 18,612, with more than 2,000 new cases in the past 15 hours.
Countries with more than 20,000 confirmed cases outside China include Italy (69,176 cases), the United States (53,660 cases), Spain (39,885 cases), Germany (32,986 cases), Iran (24811 cases), and France ( 22622 cases). The cumulative death tolls outside China exceeded 1,000 (6820 cases), Spain (2808 cases), Iran (1934 cases), and France (1100 cases).
Affected by the epidemic, the Olympic Games was postponed for the first time in history. On the evening of March 24, Japanese Prime Minister Shinzo Abe and IOC President Bach held a remote conference call to confirm the proposal to extend the Tokyo Olympics by one year.
On the 23rd local time, President Georgieva of the International Monetary Fund (IMF) issued a statement after a conference call with the finance ministers of the G20 and the governor of the central bank. Georgieva said that the global economy will show negative growth in 2020, but the economy is expected to recover in 2021. For this reason, the most important thing is to prioritize the implementation of prevention and control measures and strengthen the health system. At present, the economy has been and will continue to be severely affected, but the sooner the epidemic is controlled, the faster and stronger the economic recovery will be.
According to CCTV news reports, the G20 ’s rotating presidency, Saudi Arabia, announced on the evening of the 24th local time that the G20 leaders ’video summit will be held on the 26th. The meeting will be chaired by King Salman of Saudi Arabia, focusing on how to deal with the negative impact of the new coronavirus pneumonia epidemic on the global economy and society.
Responsible editor:Lu Fangrui Editor:Xia Shencha